The market has turned to red at the end of the week, according to CoinStats.
SHIB/USD
The price of SHIB has declined by almost 9% over the last day.
On the hourly chart, the rate of SHIB is near the local support of $0.00002428. If sellers’ pressure continues, one can expect a level breakout, followed by a drop to the $0.00002350-$0.000024 range.
On the bigger time frame, the price of SHIB is going down after yesterday’s bullish closure. If the candle closes near its low, the decline may lead to a test of the support of $0.00002283 the upcoming week.
From the midterm point of view, neither side is dominating as the rate of SHIB is in the middle of the wide channel.
In this case, sideways trading in the zone of $0.000024-$0.000028 is the more likely scenario.
SHIB is trading at $0.00002478 at press time.
